Swiss National Bank Decreases Stock Holdings in Hess Corp. (NYSE:HES)

Swiss National Bank trimmed its holdings in Hess Corp. (NYSE:HES) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889,065 shares of the oil and gas producer’s stock after selling 1,200 shares during the quarter. Swiss National Bank owned about 0.29% of Hess worth $56,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HES. Comerica Bank increased its holdings in Hess by 1.4% in the 2nd quarter. Comerica Bank now owns 52,020 shares of the oil and gas producer’s stock valued at $3,103,000 after purchasing an additional 731 shares during the last quarter. Twin Capital Management Inc. acquired a new position in shares of Hess in the second quarter worth $788,000. Coastal Investment Advisors Inc. grew its stake in shares of Hess by 79.6% in the second quarter. Coastal Investment Advisors Inc. now owns 573 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 254 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of Hess by 19.8% in the second quarter. Seelaus Asset Management LLC now owns 4,850 shares of the oil and gas producer’s stock worth $308,000 after acquiring an additional 800 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Hess by 9.1% in the second quarter. Janus Henderson Group PLC now owns 1,082,130 shares of the oil and gas producer’s stock worth $68,790,000 after acquiring an additional 90,595 shares in the last quarter. 96.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Michael R. Turner sold 11,258 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $61.71, for a total value of $694,731.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $57.18, for a total transaction of $417,699.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,908 shares of company stock valued at $3,090,015. Insiders own 12.22% of the company’s stock.



Several research firms have commented on HES. MKM Partners upgraded shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Tuesday, May 28th. Barclays began coverage on shares of Hess in a research note on Monday. They issued an “overweight” rating and a $93.00 price target for the company. Wells Fargo & Co restated a “buy” rating on shares of Hess in a research note on Wednesday, July 31st. Capital One Financial upgraded shares of Hess from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. Finally, Piper Jaffray Companies set a $61.00 price target on shares of Hess and gave the stock a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $70.38.

Shares of HES stock opened at $62.76 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $61.20 and a 200 day moving average price of $60.35. The company has a market cap of $19.23 billion, a P/E ratio of -84.80 and a beta of 1.97. Hess Corp. has a 12 month low of $35.59 and a 12 month high of $74.81.

Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.52 billion. Hess had a net margin of 1.09% and a return on equity of 0.46%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. On average, equities analysts forecast that Hess Corp. will post -0.39 EPS for the current year.

About Hess

Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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